Life Insurance policy holders have been told of the "protection gap" that is currently appearing and the need to regularly update and review life insurance requirements.
Kelly Ostler-Coyle, spokeswoman for the Association of British Insurers, has recently pointed out that there is Life Insurance gap because of the contrasts of what people think they are being covered for and what is actually on the insurance document.
"Obviously it's worth updating life insurance and thinking every couple of years about your financial needs, what you're actually covered for and what you expect if anything was to happens to you," she explained.
David Yates of life insurance experts Contact Insurance stated "We know this to be true. If we could change one law it would be to make life insurance compulsory. It would be better still if such life insurance policies were to to have built-in checks to keep families...